Oil’s three-day rally ended as policymakers made clear they would continue tightening economic reins in the fight against inflation, reigniting fears of a global slowdown.
Indian liquefied natural gas importers have signed a flurry of long-term purchase agreements linked to the U.S. price benchmark.
Falling US inventories and bullish options activity provided further support for oil prices.
Devon and Ridgemont are divesting their interests in a natural gas pipeline serving the Permian Basin with a capacity of about 2.5 Bcfd.
Midland, Texas-based oil and gas developer Permian Resources expects the acquisition to add about 12,000 boed in Q2.
The U.S. Energy Information Administration cut its average Brent oil spot price forecast for 2025 and 2026 in its latest short term energy outlook.
